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The plan is aimed at achieving a 6 percent operating margin in Europe.

Ford said it will look to exit the multivan segment, stop manufacturing automatic transmissions in Bordeaux in August, review its operations in Russia, and combine the headquarters of Ford U.K. and Ford Credit to a site in Dunton, Essex.

"We are taking decisive action to transform the Ford business in Europe," Steven Armstrong, Group Vice President, Europe, Middle East and Africa, said in a statement.

Ford Europe has struggled to turn a profit.

The division currently employs 53,000 people, with staff reductions running into the thousands.